Here's my understanding-- its basically like a 51% attack, but its not a 51% attack its just 1 transaction they are trying to change ...
You guys agree or what?
No it is nothing like a 51% attack or even a normal double spend. Using those terms just leads to unnecessary confusion and fear.
The issues outlined don't present a risk of losing funds for end users. They do however have the possibility of making the client behave in a way that is counter intuitive to a user, especially one which is a non-developer and lacks a detailed understanding of what is going on behind the scenes.